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Ethereum -Price started a new increase above $ 1,750 zone. ETH is now rising and can strive for a movement above the $ 1,880 resistance zone.
- Ethereum remained strong above $ 1,720 and started a new increase
- The price acts above $ 1,800 and the 100-hour simple advancing average.
- There is a contraction triangle in the short term that forms with resistance at $ 1,860 on the ETH/USD per hour (data feed via Kraken).
- The couple can start a new increase if it knew the $ 1,880 resistance zone.
Ethereum -Price is gaining strength
Ethereum -Price remained supported above $ 1,720 zone and started another elevation, such as Bitcoin. ETH climbed above the resistance levels of $ 1,780 and $ 1,800 to set the tone for a greater increase.
The bulls even pushed the price above $ 1,850. A high was formed at $ 1,872 and the price is now the profits consolidating. There was a small decrease and the price tested the 23.6% FIB retracement level of the upward movement of the $ 1,733 Swing low to the high of $ 1,872.
Ethereum price is now traded above $ 1,800 and the 100-hour simple advancing average. At the top the price seems to have to do with obstacles near the level of $ 1,850. There is also a short-term contraction triangle that forms with resistance at $ 1,860 on the ETH/USD graph per hour.
The next key resistance is near the level of $ 1,880. The first major resistance is near the level of $ 1,920. A clear movement above the $ 1,920 resistance can send the price to $ 1,950 resistance. An upward break above the $ 1,950 resistance can request more profit in the coming sessions. In the declared case, Ether could rise to the $ 2,000 or even $ 2,050 resistance zone in the near term.
Another decline of ETH?
If Ethereum did not know the resistance of $ 1,880, this can start a new decline. The first support at the disadvantage is near the level of $ 1,840. The first major support is near the $ 1,800 zone and the 50% FIB retracement level of the upward movement of the $ 1,733 swing low to $ 1,872 high.
A clear movement under the support of $ 1,800 can push the price to the support of $ 1,765. All losses can send the price in the short term to the support level of $ 1,720. The following key support is at $ 1,650.
Technical indicators
Hour MacD – The MACD for ETH/USD is gaining force in the bullish zone.
Hour RSI – The RSI for ETH/USD is now above 50 zone.
Major support level – $ 1,800
Large resistance level – $ 1,880